The Globe and Mail reports in its Wednesday edition that the Canadian economy is slowing quickly and risks a possible recession this year as the Bank of Canada hikes interest rates to tamp down excessive inflation. The Globe's Matt Lundy writes that real gross domestic product rose 0.1 per cent in November, according to figures published Tuesday by Statistics Canada, with a preliminary estimate showing little change in December. All told, the economy grew at an annualized rate of 1.6 per cent in the fourth quarter, based on that estimate, which The Globe says will be updated near the end of February. Despite the slowdown, the economy is showing resilience as it faces mounting headwinds. Growth in the final months of 2022 was stronger than what the BOC and several financial analysts had predicted. Notably, employers continued to hire workers in droves, which kept the unemployment rate near an all-time low. On Tuesday the IMF said its outlook was "less gloomy" than in October, citing "surprisingly resilient" demand in the United States and Europe. The BOC expects the economy to stall during the first half of 2023. It has not ruled out a mild recession, an outcome that many analysts on Bay Street are expecting.